Rhumbline Advisers Lowers Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Rhumbline Advisers lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 0.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 464,360 shares of the company's stock after selling 2,677 shares during the period. Rhumbline Advisers owned 0.21% of Elevance Health worth $201,978,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ELV. Accredited Wealth Management LLC purchased a new position in shares of Elevance Health during the 4th quarter worth $25,000. Flagship Wealth Advisors LLC purchased a new position in shares of Elevance Health during the 4th quarter worth $26,000. WealthTrak Capital Management LLC purchased a new position in shares of Elevance Health during the 4th quarter worth $29,000. Lee Danner & Bass Inc. purchased a new position in shares of Elevance Health during the 4th quarter worth $30,000. Finally, OFI Invest Asset Management purchased a new position in shares of Elevance Health during the 4th quarter worth $29,000. Hedge funds and other institutional investors own 89.24% of the company's stock.

Insider Activity

In related news, CAO Ronald W. Penczek sold 443 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the transaction, the chief accounting officer now owns 1,847 shares in the company, valued at $766,745.11. This trade represents a 19.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mark Kaye sold 4,588 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the transaction, the chief financial officer now owns 18,977 shares in the company, valued at $8,061,809.14. This represents a 19.47% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ELV. Mizuho increased their target price on Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Guggenheim reissued a "buy" rating and set a $518.00 target price on shares of Elevance Health in a research note on Wednesday, April 23rd. Wall Street Zen raised Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $478.00 target price on shares of Elevance Health in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $499.53.

Elevance Health Stock Up 0.6%

Shares of ELV traded up $2.44 during mid-day trading on Thursday, reaching $382.51. The company's stock had a trading volume of 491,235 shares, compared to its average volume of 1,529,404. Elevance Health, Inc. has a 12-month low of $357.45 and a 12-month high of $567.26. The stock has a market cap of $86.42 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The company's 50 day moving average is $411.30 and its 200 day moving average is $400.91.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, beating analysts' consensus estimates of $10.60 by $1.37. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. The business had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. Equities analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be issued a $1.71 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.79%. Elevance Health's payout ratio is currently 26.69%.

Elevance Health Company Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.